Market Research Report
Manuka Honey Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Nature, Type (UMF 5+/MGO 83 mg/kg, UMF 10+/MGO 263 mg/kg, UMF 15+/MGO 514 mg/kg, UMF 20+/MGO 829 mg/kg ), and Distribution Channel
|Manuka Honey Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Nature, Type (UMF 5+/MGO 83 mg/kg, UMF 10+/MGO 263 mg/kg, UMF 15+/MGO 514 mg/kg, UMF 20+/MGO 829 mg/kg ), and Distribution Channel|
Published: April 30, 2021
The Insight Partners
Content info: 151 Pages
Delivery time: 1-2 business days
The manuka honey market was valued at US$ 741.69 million in 2019 and is projected to reach US$ 1,238.15 million by 2028; it is expected to grow at a CAGR of 5.9% from 2020 to 2028.
Manuka honey is a monofloral honey produced from the nectar of the manuka tree, Leptospermum. It has antiviral, anti-inflammatory and antioxidant benefits. Moreover, it has traditionally been used for wound healing, soothing sore throats, preventing tooth decay and improving digestive issues. Moreover, increasing demand for plant-based food provides a huge market opportunity for the key players operating in the Manuka honey market. However, rising demand for fresh food is projected to boost the overall growth of the Manuka honey market in the forecast period.
Based on nature, the manuka honey market has been segmented into organic and conventional. The conventional segment accounted for the largest market share in 2019, and the organic segment is expected to register the highest CAGR in the market during the forecast period. Organic farming is the technique that involves the production of manuka honey without the use of artificial fertilizers, pesticides, or growth regulators on the agricultural land. The organic manuka honey contains an organic molecule called Methylglyoxal (MG), which is an antibacterial component. The manuka honey boosts the immune system by enhancing resistance to common infections and promoting mild burns or wounds and sore throat. The rate of organic farming of manuka honey has increased with the increase in cultivation area and the rising support from processing company. The major factor influencing the growers to adopt organic agriculture is the growing preference toward organic and healthy produce.
Based on region, the manuka honey market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. In 2019, Asia Pacific accounted for the largest share in the global manuka honey market. The demand for manuka honey in Asia Pacific has experienced a huge shift over the years. China and India are among the leading manuka honey consuming countries across Asia Pacific. Increasing health awareness among the consumers is further expected to bolster the market growth. The rising demand for healthy food is one of the main reasons that supports the growth of manuka honey in Asia Pacific. Hectic lifestyle along with wellness concerns have changed the eating pattern among the population, which favors the growth of manuka honey market in the region.
Some of the major key players operating in the global manuka honey market include Arataki Honey, Capilano Honey Ltd., COMVITA, Kirksbees Honey, Manuka Health, Midland Holdings, OHA Honey, and Pure Honey New Zealand, among others.
The size of overall global manuka honey market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants, such as valuation experts, research analysts, and key opinion leaders-specializing in the manuka honey market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global manuka honey market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.